EcoFactor Raises $10 Million Series B Funding

                EcoFactor Raises $10 Million Series B Funding

PR Newswire

REDWOOD CITY, Calif., Oct. 15, 2013

REDWOOD CITY, Calif., Oct. 15, 2013 /PRNewswire/ --EcoFactor, the leader in
cloud-based home energy services, announced today that it has closed $10
million in its Series B financing round with NRG Energy, Inc. (NYSE:NRG) as a
new investor joining Claremont Creek Ventures, RockPort Capital Partners, and
Aster Capital. The investment will go towards the development of new services,
enhancing EcoFactor's award-winning home energy service, and expanding its
engineering and sales staff.

According to the latest Home Energy Management Systems report by Greentech
Media (GTM) Research, the 2013 market is valued at $1.5 billion annually with
significant growth expected in the coming years from both the utility and
non-utility solutions sectors to more than $4 billion by 2017. The report also
identified EcoFactor as a top player in both markets providing high
intelligence and automation to energy efficiency and demand response
programs.

A range of utilities and cable companies in the U.S. are working with
EcoFactor, most notably NV Energy and Comcast. In late 2012, NV Energy began
mass deployment of EcoFactor's integrated demand response and energy
efficiency service under the mPowered program, which achieved as much as 3KW
load shed per home and double digit HVAC energy savings. EcoFactor's energy
efficiency service is also part of the Xfinity Home platform by Comcast. The
EcoFactor service is available to Xfinity Home customers nationwide under the
name EcoSaver which launched earlier this year.

"We're honored to have the support coming from previous investors and NRG, and
proud of the progress EcoFactor has made over the last two years," said
EcoFactor CEO Roy Johnson. "We've hit several key milestones in our company's
growth, particularly deploying scalable demand response and energy efficiency
services to several large partners. We anticipate a number of new partner and
product announcements in the coming months."

About EcoFactor

EcoFactor's cloud-based analytics platform unlocks the value of residential
data to intelligently predict and automate energy savings for consumers.
Patented software analyzes data from various sources such as network connected
thermostats, weather data, and consumer interactions, and applies optimization
algorithms tailored to the unique characteristics of individual homes and of
homeowners. Our residential energy services achieve maximum demand response
load shed, delivers superior energy efficiency savings, and detects and
prevents HVAC failures. Our services are purchased by consumers through
channel partners including Comcast, Reliant Energy, NV Energy, and Sacramento
Municipal Utility District. Based in Redwood City, California, EcoFactor is
privately held and funded by Claremont Creek Ventures, RockPort Capital
Partners and Aster capital. www.ecofactor.com.

About Claremont Creek Ventures

Claremont Creek Ventures (CCV) is a seed and early stage venture firm that
invests in companies that serve essential, broad-impact industries – including
healthcare and energy – with digital solutions that increase operational
efficiency to create high-growth, high-margin businesses. The firm partners
with entrepreneurs and institutions, including UC Berkeley, Lawrence Berkeley
Labs, and Stanford University and UC Davis. CCV has more than $300 million
under management in two funds and is located in Oakland California. For more
information visit www.claremontcreek.com.

About RockPort Capital

RockPort Capital is a multi-stage venture capital firm that invests in the
areas of alternative and traditional energy, mobility, and sustainability.
For more than a decade RockPort has partnered with entrepreneurs to foster
growth and create value in a broad range of industrial and consumer facing
companies whose technologies and products provide innovative solutions to
significant worldwide markets. RockPort has a collaborative approach to
investing, deep domain expertise, and insights into all aspects of energy and
cleantech. With offices in Boston and Menlo Park, RockPort is globally
recognized as being among the largest and most established energy-focused
venture capital firms. For more information visit www.rockportcap.com. Follow
us on Twitter at @RockPortCapital

About Aster Capital

Aster Capital is a leading clean technology focused venture capital firm
sponsored by Schneider Electric, Alstom, Solvay and the European Investment
Fund, global leaders in the energy and chemicals industries who have jointly
invested in Aster's second $130 million investment fund. With a total of $200
million under management, Aster aims to proactively leverage the expertise of
these sponsors to support its portfolio companies in their further
development. http://www.aster.com

Supporting Quotes:

Claremont Creek Ventures

"We are pleased to support EcoFactor in this new round of funding and as a
leader in home energy management solutions, we're excited to see what new
services and enhancements will come next," said Nat Goldhaber, managing
director at Claremont Creek Ventures.

RockPort Capital

"EcoFactor brings scalability and automation to home energy services which are
becoming important requirements for energy efficiency and demand response
programs," said Abe Yokell, partner at RockPort Capital. "We see a tremendous
growth potential in EcoFactor's services and are excited to continue our
partnership with this talented team."

Aster Capital

"EcoFactor has demonstrated enormous traction with major service deployments,"
said Todd Dauphinais, partner at Aster Capital. "It's patented cloud-based
service is being implemented by utilities, service providers and energy
retailers to deploy multiple home energy programs on a single platform while
increasing consumer convenience. It's an approach that sets EcoFactor apart
among many home energy management solutions."

SOURCE EcoFactor

Website: http://www.ecofactor.com
Contact: Mary Placido, EcoFactor, + 1 (415) 218-3627,
mary.placido@ecofactor.com
 
Press spacebar to pause and continue. Press esc to stop.